The Pakistan Stock Exchange (PSX) extended its losing streak on Thursday, driven by fragile investor sentiment. Persistent uncertainty surrounding US-Iran developments and elevated international oil prices fueled a volatile trading session marked by extensive selling in index-heavy stocks.
The benchmark KSE-100 Index closed down by 952.30 points, or 0.57 percent, settling at 166,498.84 points, a decrease from the previous session’s 167,451.14 points. The market experienced significant intraday volatility, ranging from a high of 168,528.87 points to a low of 166,398.90 points.
Other key indices also saw declines. The BRIndex100 fell by 94.77 points (0.51 percent) to 18,310.34 points, with a total traded volume of 503.313 million shares. The BRIndex30 dropped 494.54 points (0.74 percent) to 66,274.66 points, recording a volume of 220.617 million shares.
Topline Securities attributed the day’s volatility to cautious investor sentiment, stemming from a lack of progress in ongoing negotiations and the sustained uncertainty surrounding US-Iran relations. High international oil prices further eroded market confidence throughout the day. Major index-heavy stocks, including United Bank Limited, Systems Limited, Bank Alfalah Limited, Fauji Fertilizer Company Limited, and Pakistan Petroleum Limited, faced significant selling pressure. Cumulatively, these stocks pulled the benchmark index down by 580 points.
While trading volume in the ready market improved to 706.019 million shares from 684.901 million in the prior session, traded value declined to Rs19.922 billion from Rs21.741 billion. Market capitalization also saw an erosion of approximately Rs95.54 billion, falling from Rs18.571 trillion to Rs18.475 trillion.
Market breadth was distinctly negative, with declining issues outnumbering advancing stocks. Of the 484 companies traded, 293 closed in the red, 155 advanced, and 36 remained unchanged.
Bunnys Limited led trading volumes in the ready market, with 115.352 million shares traded, closing at Rs7.08. Trust Brokerage followed with 62.760 million shares, closing unchanged at Rs2.00, and Treet Battery Limited recorded 56.827 million shares, settling at Rs10.28.
Notable gainers included PIA Holding Company LimitedB, which surged by Rs119.47 to Rs18,797.00, and Khairpur Sugar Mills Limited, which gained Rs119.04 to close at Rs1,309.47. Conversely, Unilever Pakistan Foods Limited declined by Rs239.83 to Rs26,000.50, and Khyber Textile Mills Limited shed Rs20.97 to end at Rs1,564.03.
Sector-wise performance across the Business Recorder indices was largely negative, though mixed. The BR Automobile Assembler Index fell by 95.64 points (0.35 percent) to 26,851.70 points, with 3.519 million shares traded. The BR Cement Index was an outlier, rising 11.60 points (0.10 percent) to 11,394.62 points on a turnover of 20.901 million shares.
Other sectors saw declines: The BR Commercial Banks Index dropped sharply by 564.74 points (1.01 percent) to 55,419.49 points, with 36.530 million shares traded. The BR Power Generation and Distribution Index lost 85.04 points (0.31 percent) to 27,518.84 points, recording 32.786 million shares turnover. The BR Oil and Gas Index fell 84.72 points (0.57 percent) to 14,757.89 points on a turnover of 30.396 million shares. Meanwhile, the BR Tech & Communication Index decreased by 40.18 points (1.07 percent) to 3,711.26 points, with a turnover of 66.249 million shares.
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